Hyundai Motor India IPO: Entry of Hyundai Motor India IPO in the stock market, know till when you can bid…

Hyundai Motor India IPO: The IPO of Korean car manufacturing company Hyundai Motor India has opened from today i.e. 15th October. This is the largest IPO in the country. Earlier, the record of the largest IPO was in the name of LIC, which had brought an issue of ₹ 20,557 crore. The issue size of Hyundai is ₹27,856 crore.

However, the track record of returns for IPOs with large issue sizes has not been good. So far, 5 out of 6 mega IPOs worth at least ₹10,000 crore have had negative listing. Not only this, investors who did not sell shares in the hope of a rise are also in loss.

Investors of 5 mega IPOs including Paytm still in loss

LIC's IPO came in May 2022. Investors suffered a loss of 8% on the day of listing. Paytm's IPO came in 2021, which was also the biggest issue at that time. The shares fell 27% below the issue price on the day of listing. Still, investors of this IPO are in loss.

Coal India is the only exception in this list.

The only exception in this list is Coal India's Rs 15,199 crore IPO, which gave a return of about 40% on the day of listing. At the same time, it is currently trading about 96% above its IPO issue price.

Hyundai Motor India IPO: 12 brokerages give subscribe rating to Hyundai IPO

According to an ET report, 12 brokerages have given subscribe rating to Hyundai Motor India's IPO given the prospects of stable growth amid favorable industry conditions, strong financials and healthy SUV product slate.

ICICI Direct analyst Shashank Kanodia said- We expect limited listing benefits in this IPO. However, one can get good returns in the long run. The gray market premium of Hyundai shares has also increased by only Rs 30 or 1.5%. That means the listing of shares may be flat.

Investors will be able to bid till October 17

Investors will be able to bid in the IPO of Hyundai Motor India Limited till October 17. The company's shares will be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on 22 October.

The company wants to raise Rs 27,870.16 crore through this issue. For this, the existing investors of the company are selling 142,194,700 shares worth Rs 27,870.16 crore through Offer for Sale i.e. OFS.